AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYYes
On 27 June 2018, the Indian Cabinet Committee on Economic Affairs approved a grant-in-aid of INR 1040 crore (~USD 151.19 million) to the National Export Insurance Account (NEIA) Trust. This aid will be split in 3 years, INR 440 crore (~USD 63.96 million) in 2017-18, INR 300 crore (~USD 43.61 million) in 2018-19 and INR 300 crore (~USD 43.61 million) in 2019-20.*
The NEIA was set up in 2006 as a Public Trust by the Indian Ministry of Commerce and Industry with the objective to support mainly medium to long-term export projects that are beyond the underwriting capacity of the Export Credit Guarantee Corporation (ECGC). Post the Global Financial Crisis in 2008, the NEIA's objectives were expanded to provided for short-term cover as well (see related State Act).
* INR to USD conversion as on 27 June 2018 - INR 68.79 / USD
⚑ Please report this page in case you detect an inaccuracy in its content.